Mosmart
From 2004 until end-2009, EPH indirectly owned 10% of Russian food retailer Mosmart, four Moscow shopping centers anchored by Mosmart, and an office building adjacent to one of the shopping centers through its stake in Sarnatus Trading Ltd.
In the beginning of 2010, Sarnatus was restructured. In conjunction with a financing package, majority ownership of Mosmart and the shopping centers was transferred to a Sberbank affiliate and new management team. Sarnatus continues to own 100% of the Moscow office property, and now owns 40% of Mosmart and the shopping center assets.
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